EMCORE (EMKR) Given “Hold” Rating at Northland Securities

Northland Securities restated their hold rating on shares of EMCORE (NASDAQ:EMKR) in a report issued on Wednesday morning. The firm currently has a $7.50 price objective on the semiconductor company’s stock.

Several other research analysts have also issued reports on EMKR. B. Riley reiterated a neutral rating and issued a $10.50 price target on shares of EMCORE in a report on Wednesday, August 9th. Zacks Investment Research lowered EMCORE from a hold rating to a sell rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. EMCORE currently has an average rating of Hold and an average target price of $9.13.

Shares of EMCORE (NASDAQ:EMKR) traded down $0.18 during trading hours on Wednesday, reaching $6.07. The company’s stock had a trading volume of 540,300 shares, compared to its average volume of 328,753. The company has a market capitalization of $167.99, a price-to-earnings ratio of 16.03 and a beta of 0.45. EMCORE has a 1-year low of $5.80 and a 1-year high of $12.20.

EMCORE (NASDAQ:EMKR) last announced its quarterly earnings results on Tuesday, December 5th. The semiconductor company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $29.20 million during the quarter, compared to the consensus estimate of $30.29 million. EMCORE had a return on equity of 9.45% and a net margin of 6.70%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 EPS.

In related news, CEO Jeffrey Rittichier sold 9,189 shares of the stock in a transaction that occurred on Thursday, October 19th. The stock was sold at an average price of $8.45, for a total transaction of $77,647.05. Following the completion of the sale, the chief executive officer now directly owns 288,505 shares of the company’s stock, valued at $2,437,867.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.77% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in EMKR. Gotham Asset Management LLC bought a new position in shares of EMCORE in the second quarter worth $111,000. Voya Investment Management LLC bought a new position in shares of EMCORE in the second quarter worth $112,000. Dynamic Technology Lab Private Ltd bought a new position in shares of EMCORE in the third quarter worth $151,000. Wells Fargo & Company MN boosted its holdings in shares of EMCORE by 2.5% in the second quarter. Wells Fargo & Company MN now owns 19,146 shares of the semiconductor company’s stock worth $204,000 after acquiring an additional 466 shares during the period. Finally, Cavalier Investments LLC bought a new stake in EMCORE during the third quarter valued at $164,000. 78.34% of the stock is owned by institutional investors and hedge funds.

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EMCORE Corporation is engaged in designing and manufacturing indium phosphide (InP) optical chips, components, subsystems and systems for the broadband and specialty fiber optics market. The Company focuses on linear fiber optic transmission technology. The Company operates through Fiber Optics segment.

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